Section 12. Stamp, Income, Occupation, License or Franchise Tax Permissible - Reference to United States Laws in Imposition of Income Taxes - Income or Intangible Property Taxes allocated to Public Education System and Higher Education System
Select dates to read amendment and select a date from the dropdown to compare the changes.
Stamp, Income, Occupation, License or Franchise Tax Permissible - Reference to United States Laws in Imposition of Income Taxes - Income or Intangible Property Taxes allocated to Public Education System and Higher Education System
(1) Nothing In this Constitution shall be construed to prevent the Legislature from providing a stamp tax, or a tax based on income, occupation, licenses, franchises, or other tax provided by law. The Legislature may provide for deductions, exemptions, or offsets on any tax based upon income, occupation, licenses, franchises, or other tax as provided by law pursuant to this section.
(2) Notwithstanding any provision of this Constitution, the Legislature, in any law imposing income taxes, may define the amount on, in respect to, or by which the taxes are imposed or measured, by reference to any provision of the laws of the United States as the same may be or become effective at any time or from time to time and may prescribe exemptions or modifications to any such provision.
(3) All revenue received from taxes on income or from taxes on intangible property shall be allocated to the support of the public education system and the higher education system as defined in Article X, Section 2 of this Constitution.
Stamp, Income, License, Franchise, or Mortgage Tax Permissible
(1) Nothing in this Constitution shall be construed to prevent the Legislature from providing a stamp tax, or a tax based on income, occupation, licenses, franchises, or other tax provided by law. The Legislature may provide for deductions, exemptions, or offsets on any tax based upon income, occupation, licenses, franchises, or other tax as provided by law pursuant to this section.
(2) Notwithstanding any provision of this Constitution, the Legislature, in any law imposing income taxes, may define the amount on, in respect to, or by which the taxes are imposed or measured, by reference to any provision of the laws of the United States as the same may be or become effective at any time or from time to time and may prescribe exemptions or modifications to any such provision.
(3) All revenue received from taxes on income or from taxes on intangible property shall be allocated to the support of the public school system as defined in Article X, Sec. 2 of this Constitution.